Controls

Name

Description

PRICE LIMIT

Price limits are determined by a band calculated as a percentage of value from the last sale price. These settings are predeﬁned at the marketcenter level.

SHARE LIMIT

Share limits provide Subscribers with the ability to set a maximum number of shares permitted per order. When an order is entered with a share amount that exceeds this limit, the order will be rejected.

NOTIONAL LIMIT

Notional limit provide Subscribers with the ability to set the maximum notional value per order. The notional value of a trade is calculated by the number of shares multiplied by the price of the security. When an order is entered with a notional value above this set limit, the order will be rejected.

CANCEL ON DISCONNECT

In the event the FIX session between Nasdaq CXC and client is disconnected, Nasdaq CXC will cancel all open orders.

NO SELF TRADE

This feature is enabled on a trader ID basis and will prevent the trader ID from trading with itself. The active order will be cancelled back

SELF-TRADE PREVENTION - CANCEL NEWEST

This feature will prevent a new order from trading against a resting quote. The incoming order will be cancelled and the resting order will remain on the Nasdaq CXC book.

SELF-TRADE PREVENTION - CANCEL OLDEST

This feature will prevent an incoming order from trading against a resting quote. The resting order will be cancelled and the incoming order will remain on the Nasdaq CXC book.

SELF-TRADE PREVENTION - CANCEL AND DECREMENT

This feature will prevent a new order from trading against a resting quote. The larger order will be decremented by the quantity of the smaller order and the remaining balance will rest on the Nasdaq CXC book. If both orders are the same size, they will be cancelled back.